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Nov 13, 2012
11/12
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. >>> and the countdown to fiscal cliff begins. congress continues to work where skr just seven weeks to reach a deal. >> and vodaphone shares fall after it takes a mitt in its spanish and italian businesses. >>> lot of breaking newses including the iea report following the big report yesterday. >> overtaking saudi arabia is getting a buzz. >> but a monthly basis, global oil demand cut by -- to 90.1 million barrels a day. impact of hurricane sandy in the u.s., reduced, as well. crude oil supply dipped to a nine month low. so the demand being cut, patrick armstrong is where us, managing partner at investment managers. but that's clearly because of global weakness -- well, economic weakness in europe and hurricane impact. >> definitely. year over year, oil demand is up. we've had very weak economy in europe. not much growth in the united states. but i think that's the trend we'll be playing out for the next few years. >> oil 110 at the moment. is that a fair price? >> there's premium built in because of geopolitical risks. i think pr
. >>> and the countdown to fiscal cliff begins. congress continues to work where skr just seven weeks to reach a deal. >> and vodaphone shares fall after it takes a mitt in its spanish and italian businesses. >>> lot of breaking newses including the iea report following the big report yesterday. >> overtaking saudi arabia is getting a buzz. >> but a monthly basis, global oil demand cut by -- to 90.1 million barrels a day. impact of hurricane sandy in the...
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Jun 7, 2012
06/12
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can we avoid the fiscal cliff and the lame duck congress? i don't know how investors, i don't know how men and women in business are going to react to that, but i don't think they're going to be thrilled about it. and i think people in the senate, the house, may try to rush the process, but speaker boehner's probably right. it takes two to tango and you can't get it done unless he works with president obama on common ground. i worry about this story. i think it's got a disappointing theme to it. we'll see how it ends after the election. anyway, up next on "kudlow," let's go to ben bernanke. he says all the options are on the table when it comes to the u.s. economy, but the message from congress today was loud and clear -- less is more. take a listen. >> i wish you would take a third round off the table. i wish you would look the market in the eye and say, the fed has done all it can, perhaps too much. i wish you'd look at this president in congress in the eye and say, it is time to do your job. >> all right. well, the man who helped bernanke
can we avoid the fiscal cliff and the lame duck congress? i don't know how investors, i don't know how men and women in business are going to react to that, but i don't think they're going to be thrilled about it. and i think people in the senate, the house, may try to rush the process, but speaker boehner's probably right. it takes two to tango and you can't get it done unless he works with president obama on common ground. i worry about this story. i think it's got a disappointing theme to...
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Nov 15, 2012
11/12
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she's fired up about the fiscal cliff. she says congress has to rise above -- she's wearing one of our pins, ty and simon. we'll talk to her about what the implications are if congress does not rise above. all of that straight ahead. >>> but first, i'll throw it down to simon hobbs down at the nyse. >> hi, sue. one of the immediate implications of course is the way in which the market is behaving. the dow is at a five-month low, the s&p 500 at a four-month low. we have just begun to cut some of our earlier losses within the last few seconds. we've regained 1.350 quite cover the comfortably. kenny, you are worried here now for the afternoon. why? >> i am worried. we were struggling to hold on to 1,350. you can feel it's testy. if the news coming out of the mideast gets any worse as we proceed through the day, i think you'll see investors taking money off the table as the situation develops. >> it goes on day after day. >> it does, except the situation now in the mideast is all of a sudden really elevated to the top between
she's fired up about the fiscal cliff. she says congress has to rise above -- she's wearing one of our pins, ty and simon. we'll talk to her about what the implications are if congress does not rise above. all of that straight ahead. >>> but first, i'll throw it down to simon hobbs down at the nyse. >> hi, sue. one of the immediate implications of course is the way in which the market is behaving. the dow is at a five-month low, the s&p 500 at a four-month low. we have just...
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Nov 20, 2012
11/12
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let's talk about the fiscal cliff first, he's saying the congress and administration need to quote protect the economy from the full effects of the fiscal cliff. he's saying it poses a substantial threat to the recovery. quote saying it will likely cause a recession if it hits in full force. the budget situation by affecting private sending the already hurting the economy according to the fed chairman. he's urging also, not just solving the fiscal cliff problem, but raising the debt ceiling, saying a catastrophic default of the nation's debt obligations. credible fiscal policy is urgently needed to ensure long-term growth. doesn't want immediate restraint in fiscal spending. on the economy, says it continues to recover though the pace of the recovery is slow. job growth he says is recovering, but again, it is slow. some good things so say about housing, saying it has recovered, but he's also saying there are head winds from housing. europe and the financial sector. now, i want to get to one thing he talks about, which is interesting. he's suggesting that the financial crisis may have reduc
let's talk about the fiscal cliff first, he's saying the congress and administration need to quote protect the economy from the full effects of the fiscal cliff. he's saying it poses a substantial threat to the recovery. quote saying it will likely cause a recession if it hits in full force. the budget situation by affecting private sending the already hurting the economy according to the fed chairman. he's urging also, not just solving the fiscal cliff problem, but raising the debt ceiling,...
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Nov 21, 2012
11/12
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is congress taking the fiscal cliff seriously enough? joining me right now, the man in charge at insurance broker willis group. joe is also on the fix the debt campaign. it's great to have you on the program. >> nice to see you again. >> thank you so much. we had this big rally in stocks on monday. on some rhetoric, i guess, that led investors to believe there was optimism we will get a deal done on this fiscal cliff. now they've left town. what do you think happens? >> i don't understand why there's not a sense of urgency. i agree with mario. i don't know that people appreciate the fact what cliff means. remember sundance kid, butch ka cassidy, when they jump over the cliff and they fell? the taxes are going to go up. interest rates are going to go up. nobody will be able to borrow any money. you can't buy a house. you're not going to be able to do anything that you want to do that you do today. as a result, that's what the cliff means. so if the government doesn't fix this issue and come together and get sane, then the bond markets are
is congress taking the fiscal cliff seriously enough? joining me right now, the man in charge at insurance broker willis group. joe is also on the fix the debt campaign. it's great to have you on the program. >> nice to see you again. >> thank you so much. we had this big rally in stocks on monday. on some rhetoric, i guess, that led investors to believe there was optimism we will get a deal done on this fiscal cliff. now they've left town. what do you think happens? >> i...
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May 24, 2012
05/12
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congress, whether or not we'll fall off this fiscal cliff. my strong belief is they'll extend many of the tax advantages we currently have. how we actually get there, when they vote for it, that's going to be messy because politics are involved. it's likely going to happen after the november elections in the u.s. so that creates a small window -- >> very small window. >> very small window. a lot of anxiety in the market, but we've rarely had a significant economic setback on higher tac eer taxes. we've always had congress respond by being more stimulative and offering tax discounts or breaks if the economy were seriously slowing. >> we'll see about that. steven, jonathan, good to have you on the program. 20 minutes before the closing bell sounds. we have a market that's flat on the session. the dow jones industrial average under some selling pressure here but certainly coming back, way back, from the lows, bill. >> it is. we want to come back and talk about the facebook ipo, the mess seems to get messier every single day. what we want to talk
congress, whether or not we'll fall off this fiscal cliff. my strong belief is they'll extend many of the tax advantages we currently have. how we actually get there, when they vote for it, that's going to be messy because politics are involved. it's likely going to happen after the november elections in the u.s. so that creates a small window -- >> very small window. >> very small window. a lot of anxiety in the market, but we've rarely had a significant economic setback on higher...
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Sep 11, 2012
09/12
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therefore, the economy is destined to go over the fiscal cliff and into recession and congress is driving that bus. the longer they wait, it won't be a 2% recession, it will be a 4% recession, it could be 5 or 6%. that is how irresponsible this story is. let's get right to our special guests, former labor secretary robert reich, author of the book "beyond outrage" and welcome tourist some coburn. senator coburn, tell me where i'm wrong. there's only a couple working days that will happen between now and the end of the year and the recession goes into place, tax hikes go into place and the recession goes into place. >> i don't agree, larry. there's probably about 20 days of work that we will address those issues. especially the morning of december. the reason nothing's happening now is there's no leadership for anything to happen. one. the career politicians in washington don't want anything to happen until they see the outcome of the election because it will either enhance their positions or weaken their positions, so they don't want to make commitments now. >> i want to ask you, senator
therefore, the economy is destined to go over the fiscal cliff and into recession and congress is driving that bus. the longer they wait, it won't be a 2% recession, it will be a 4% recession, it could be 5 or 6%. that is how irresponsible this story is. let's get right to our special guests, former labor secretary robert reich, author of the book "beyond outrage" and welcome tourist some coburn. senator coburn, tell me where i'm wrong. there's only a couple working days that will...
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Nov 7, 2012
11/12
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and the fiscal cliff. that's why gold prices are basically where they were. other metals much harder hit. growth story there. back to you. >> thank you very much, sharon. >>> to the nasdaq now. we know apple's been pressuring the nasdaq but there are other movers there as well. seema mody has them for us. >> apple with its 20% wage on the nasdaq 100, it continues to pull the index lower officially in bear market territory. also want to point your attention to chip stocks which are underperform being the broader tech space. intel hitting a 52-week low. qualcomm losing ground ahead of its earnings report tonight. the street calling for a fourth quarter eps of 82 cents. speaking of earnings, news corp. reported earnings yesterday, it beat street estimates by 6 cents so that's actually a bright spot here at the nasdaq. also netflix showing some green. cantor fitzgerald boosting its price target to $85 a share. back to you, tyler. >>> stocks slammed a day after the elections and add on new fears about europe's
and the fiscal cliff. that's why gold prices are basically where they were. other metals much harder hit. growth story there. back to you. >> thank you very much, sharon. >>> to the nasdaq now. we know apple's been pressuring the nasdaq but there are other movers there as well. seema mody has them for us. >> apple with its 20% wage on the nasdaq 100, it continues to pull the index lower officially in bear market territory. also want to point your attention to chip stocks...
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Sep 13, 2012
09/12
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is going to do and they're facing the fiscal cliff. how close to that cliff is congress going to take the country and the markets? >> yeah. well i think a lot of it is depend on whether or not the president is going to take us up to that cliff or not. he's been very hard and strident on his language about absolutely wanting to have that tax increase. i think we've seen some of the actions out of the senate. i impacts on small business owners on estate taxes and some of those things are just going to be huge. we need to solve this. i happen to agree with bill clinton, at least the bill clinton from a couple of months ago when he said, hey, we shouldn't be raising taxes on anybody right now at this point in the economy. i wholeheartedly agree. >> congressman, thank you for spending time with us. >>> we also want to quickly run through the home builders now that the fed has made its move. they along with the broader market are up. now mortgages and housing are both front and center as we've been talking just in the past few minutes but no
is going to do and they're facing the fiscal cliff. how close to that cliff is congress going to take the country and the markets? >> yeah. well i think a lot of it is depend on whether or not the president is going to take us up to that cliff or not. he's been very hard and strident on his language about absolutely wanting to have that tax increase. i think we've seen some of the actions out of the senate. i impacts on small business owners on estate taxes and some of those things are...
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Oct 26, 2012
10/12
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the washington post reporting today that fears over the fiscal cliff may have already wiped out nearly 1 million jobs. already, folks, this year alone. >>> let's take a look at what's happening with regards to the weather because the entire east coast is on edge right now. we are waiting to see exactly where and when hurricane sandy will hit. so let's bring in the president and ceo of generac. he's on the phone now. what are you seeing in terms of demand for your product now? >> demand is really just off the charts right now. as you would expect in a major event like this, the big focus that we have is shipping our products that we have in our warehouses and in other parts of the country to the east coast as fast as we can. >> i'm actually hearing from people around me that they're having difficulty finding generators. they go to stores and they're currently sold out. do you have enough supply to meet the expected demand, sir? >> well, whenever you get an event of this magnitude if this does develop into the kind of storm that they are talking about, unfortunately, there just probably
the washington post reporting today that fears over the fiscal cliff may have already wiped out nearly 1 million jobs. already, folks, this year alone. >>> let's take a look at what's happening with regards to the weather because the entire east coast is on edge right now. we are waiting to see exactly where and when hurricane sandy will hit. so let's bring in the president and ceo of generac. he's on the phone now. what are you seeing in terms of demand for your product now? >>...
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Nov 8, 2012
11/12
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maybe where we differ is fiscal cliff. i tend to think it's somewhat overblown. congress set the parameters along with the white house and they can change it. and worse case scenario, they're going to kick the can down the road. they're not going to come up with the grand bargain like a lot of people hope that they do and that will be disappointing, but they will for market sake at least kick the can down the road. >> if anything perhaps we get conditions where investors can look at sectors or areas of differentiation and not just a macro driven space. there was a bright spot in trade yesterday, shares of smith and wesson rallied on speculation that gun enthusiasts will stock up given obama might toughen gun laws in the years ahead. do you see whether it's the smith and w evenessons or other sectors based on obama's re-election some. >> there's two sides of the corn. ic big energy will suffer, but clean energy does well. big phrma suffers, but the hospital space does well. financial services probably from a regulatory standpoint suv, but that's one of my favorite
maybe where we differ is fiscal cliff. i tend to think it's somewhat overblown. congress set the parameters along with the white house and they can change it. and worse case scenario, they're going to kick the can down the road. they're not going to come up with the grand bargain like a lot of people hope that they do and that will be disappointing, but they will for market sake at least kick the can down the road. >> if anything perhaps we get conditions where investors can look at...
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Nov 12, 2012
11/12
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go over the fiscal cliff in part, not to the point of it becoming any sort of chaotic thing, about there is an opportunity to push it beyond january 1st if republicans are not willing to explore some revenue options by letting tax cut s expire. >> someone said to me we could go over the deadline and then the tax rates automatically go in and then we get an agreement and republicans would then claim the republicans would be bringing the tax rates down again. does that figure into political thought? >> it absolutely is figuring into lil thought. democrats in this case are willing to wait for a little bit longer than they were during the debt ceiling talks. they don't feel the sense of urgency that you might expect. they're willing to wait until republicans are maybe going to move a little bit on their position. the democrats after this election that we just had feel they're in a very prime position and that they have a mandate from the american people to enact their policies during these discussions. on they'll play their hand i think to their full advantage. >> what kind of hand does john
go over the fiscal cliff in part, not to the point of it becoming any sort of chaotic thing, about there is an opportunity to push it beyond january 1st if republicans are not willing to explore some revenue options by letting tax cut s expire. >> someone said to me we could go over the deadline and then the tax rates automatically go in and then we get an agreement and republicans would then claim the republicans would be bringing the tax rates down again. does that figure into political...
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Nov 7, 2012
11/12
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the point i'd like to make about the fiscal cliff is that i think congress, the president, everyone, investors included, should step back and realize in the last two years, last few years of gridlock, how much the fiscal issues in this country have improved. yes, improved. we had a 10.4% deficit at the worst. the last 12 months deficit, percent of gdp today is 6.9%. a 3.5% improvement in the deficit even though we've only grown a little over 2% in this period of time. if we can continue to grow even modestly, that deficit will go from 6.9%, maybe get a five handle or four handle and the debt to gdp ratio in this country could peak out and start to fall. we don't have to do anything. we don't need a grand bargain. we don't need major fiscal legislation. we just need a continuation, not even of fast, but just persistent growth. i think clinton gave the best example of this. his fiscal issues went away and ended up in surplus simply because had he a ten-year expansion. rather than have a knee-jerk reaction that we need to do this before the end of the year, think we should all take a br
the point i'd like to make about the fiscal cliff is that i think congress, the president, everyone, investors included, should step back and realize in the last two years, last few years of gridlock, how much the fiscal issues in this country have improved. yes, improved. we had a 10.4% deficit at the worst. the last 12 months deficit, percent of gdp today is 6.9%. a 3.5% improvement in the deficit even though we've only grown a little over 2% in this period of time. if we can continue to grow...
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Nov 21, 2012
11/12
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markets are giving congress a pass on the fiscal cliff. home builders, gold stocks big gainers this week. defensive names, cyclical stocks are the biggest gainers on the week. dow is up 2%. we also see s&p 500 sector gainers. this is all the risk-on trade. materials, tech, energy, financials, there's your classic risk-on move and for the week the dow is up 2%. s&p up maybe 2.3% for the week. my sense is that this is going to last another week and a half to two weeks. you have a grace period where they'll let them negotiate. if we get into the week of december 10th, everyone feels we better get some outlines of what will happen. if there's not the obvious -- we're not going to have a deal, it is going to move down very fast. i think we have a period of a week and a half here. >> we'll be watching. thank you. >>> the announcement of the cease-fire. did that lead to selling in treasuries? rick santelli is tracking the selling at the s&p. >> definite talk on the floor has been almost universally about the cease-fire and a lot of thought as to
markets are giving congress a pass on the fiscal cliff. home builders, gold stocks big gainers this week. defensive names, cyclical stocks are the biggest gainers on the week. dow is up 2%. we also see s&p 500 sector gainers. this is all the risk-on trade. materials, tech, energy, financials, there's your classic risk-on move and for the week the dow is up 2%. s&p up maybe 2.3% for the week. my sense is that this is going to last another week and a half to two weeks. you have a grace...
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Dec 27, 2012
12/12
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>> announcer: if congress fails to come to an agreement on the fiscal cliff, the u.s. unemployment rate will top over 9% in 2013. at a dry cleaner, we replaced people with a machine. what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. you won't take our future. aids affects us all. even babies. chevron is working to stop mother-to-child transmission. our employees and their families are part of the fight. and we're winning. at chevron nigeria, we haven't had a reported case in 12 years. aids is strong. aids is strong. but we are stronger. and aids... ♪ aids is going to lose. aids is going to lose. ♪ >>> coming up, we'll see how correct or in correct our predictions were for this year. we'll check in on commodities. we've also got a mystery panel today. it is a retail stock that has not had a down q1 for the past nine years. that is your hint. what on earth is happening in washington, folks? when we run through what exactly no deal
>> announcer: if congress fails to come to an agreement on the fiscal cliff, the u.s. unemployment rate will top over 9% in 2013. at a dry cleaner, we replaced people with a machine. what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. you won't take our future. aids affects us all. even babies. chevron is working to stop mother-to-child transmission. our...
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Nov 14, 2012
11/12
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the president is optimistic that he can work with congress to fine a compromise on the fiscal cliff, although he is sticking to his guns about raising tax rates on those making more than $250,000 a year, something the gop and john boehner have said they are unlikely to support. >>> welcome to this special "rise above" edition of street signs coming to you live from the white house. i am brian sullivan where the president just wrapped up his first news conference since re-election and his first in eight months. since that time there's been this little thing called the election and that big thing we are all facing called the fiscal cliff. >>> the markets are selling off for a number of reasons. let's see where the markets stand and welcome back michelle caruso-cabrera. >> brian, take a look at the markets. intrasession here, the dow hit its lows of the session during president obama while he was speaking, lower by 107 points. 12,648. the dow down 1,000 points from the year's high. nasdaq dipping into correction territory right now, lower by 17 points. down 10% from its highs of 2012. r
the president is optimistic that he can work with congress to fine a compromise on the fiscal cliff, although he is sticking to his guns about raising tax rates on those making more than $250,000 a year, something the gop and john boehner have said they are unlikely to support. >>> welcome to this special "rise above" edition of street signs coming to you live from the white house. i am brian sullivan where the president just wrapped up his first news conference since...
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Dec 27, 2012
12/12
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>>> we will start off with news about the fiscal cliff. congress returning to capitol hill today to try to get a deal done on the cliff before the deadline on december 31st. senate majority leader harry reid is working to see if the scaled backpackage the president laid out last week can get through congress before monday. meantime, treasury secretary timothy geithner says the government will hit the debt ceiling on monday and he is launching an emergency plan to avert a crisis. amm eamon javers is live. what do we know? >> the president is coming back early, a couple days earlier than his vacation. did a little bit of jogging, working out in the gym over his vacation. now he will be,ing would out on this fiscal cliff. the senate is coming back and the house of representatives is going to have a conference call for all republicans later on today and then yesterday, we saw the secretary of the treasury, tim geithner, announced the $16.4 trillion debt limit is going to be reached by monday, that was a little bit surprising to people who have
>>> we will start off with news about the fiscal cliff. congress returning to capitol hill today to try to get a deal done on the cliff before the deadline on december 31st. senate majority leader harry reid is working to see if the scaled backpackage the president laid out last week can get through congress before monday. meantime, treasury secretary timothy geithner says the government will hit the debt ceiling on monday and he is launching an emergency plan to avert a crisis. amm...
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Jul 18, 2012
07/12
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we keep hearing we will probably not deal with the fiscal cliff until after the election, but can the economy wait that long? >> no with it can't, and i think it's a political problem more than an economic problem. i believe it's a solvable problem, but the politics are such that you almost have a dysfunctional political environment here in washington. you have too much partisanship. you have sides dug in on both extremes, and there seems to be no bipartisan will. and a small number of us in the house and the senate have started discussions over what's going to have to be a bipartisan solution. >> what do you think that will be? do we just put it on hold again? kick the can down the road and hope the expected ending of the tax cuts and spending cuts expected by the end of the year. do we put that on hold, or will there be a new proposal? >> there are several proposals to put health care on a sustainable path. people on social security disability may not need to be there. that will affect our senpension. there are ways to fix it be gradually raising the retirement age. they're tough qu
we keep hearing we will probably not deal with the fiscal cliff until after the election, but can the economy wait that long? >> no with it can't, and i think it's a political problem more than an economic problem. i believe it's a solvable problem, but the politics are such that you almost have a dysfunctional political environment here in washington. you have too much partisanship. you have sides dug in on both extremes, and there seems to be no bipartisan will. and a small number of us...
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Jul 17, 2012
07/12
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john and jerry says if congress will not do their work on the fiscal cliff, let us not pay them. would that get their attention? we will debate that. also, yahoo! becoming the third major tech company to hire a female ceo. why is this sector leading the way for breaking the board room glass ceiling. we tackled a delicate question, can women have it all? a great career and family? a debate rage iing today. >>> forget toys in the attic, is it time for toys in your portfolio? we wil present the hazmat trade. >> lots of things coming up. wall street doing the ben bernanke back and forth today where stocks started higher and sold off on the bernanke testimony and they regained lost ground and more. the dow up only for the second time in nine sessions. the s&p 500 gaining for only the second time in nine days. amazingly enough, it has wiped out its july loss with the rally. continuing a recent trend, a non-text stock is leading it. toy makers jump 10%. we will talk more about the toy trade later on in the show. we have courtney reagan and bob pisani at the nyc. i want to talk to you. w
john and jerry says if congress will not do their work on the fiscal cliff, let us not pay them. would that get their attention? we will debate that. also, yahoo! becoming the third major tech company to hire a female ceo. why is this sector leading the way for breaking the board room glass ceiling. we tackled a delicate question, can women have it all? a great career and family? a debate rage iing today. >>> forget toys in the attic, is it time for toys in your portfolio? we wil...
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Nov 29, 2012
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eamon javers joins us with the latest on the fiscal cliff negotiations in washington. eamon. >> and this is a big one, melissa. "the wall street journal" reporting just within the past few seconds here that according to republican congress aides who have talked to the wall street journal, they say they've obtained a copy of the white house's proffer here in the fiscal cliff negotiations. this is the proffer that apparently treasury secretary tim geithner was talking to republican leaders about today. wall street journal citing a number of specifics from this proposal. let me walk you through them and lay out the implications starting with what aides describe as the white house wanting $1.6 trillion in tax increases up front as part of any new deal. the white house wanting to continue the payroll tax credit or similar policy. the white house saying that it wants a permanent increase in the debt limit and pushing a one-year extension of jobless benefits plans. this one will be the kicker, i think, to any deal that might or might not get hashed out on capitol hill. "the w
eamon javers joins us with the latest on the fiscal cliff negotiations in washington. eamon. >> and this is a big one, melissa. "the wall street journal" reporting just within the past few seconds here that according to republican congress aides who have talked to the wall street journal, they say they've obtained a copy of the white house's proffer here in the fiscal cliff negotiations. this is the proffer that apparently treasury secretary tim geithner was talking to...
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Oct 31, 2012
10/12
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>> well, the fiscal cliff, it's incredibly important for congress to avoid a fiscal cliff. i think it's just sort of a gamble no one wants to take. but we're really building a base case that the fiscal cliff is essentially blunted. we have about a third of it actually happening next year. and that 1.6% drag is pretty comparable to the fiscal drag we've seen from state, local, federal in 2011, 2012. >> all right. tom, thank you. we appreciate it. >> thank you. >> it's good to see you. andrew is going to talk about asking for comments. i have a comment from a viewer. >> what was the comment? >> you are right, the broken window theory of stimulation is silly, keynesian economists can't help mistaking capital flows for capital stock. why not destroy all capital so we can rebuild it and call it economic stimulus. net net, it's a redistribution of capital from savers to labor. makes no sense. if you do think about it long enough, does it really make any sense to destroy a city to rebuild it because of the economic? it doesn't. so you don't want to keep doing this. >> hurricane sa
>> well, the fiscal cliff, it's incredibly important for congress to avoid a fiscal cliff. i think it's just sort of a gamble no one wants to take. but we're really building a base case that the fiscal cliff is essentially blunted. we have about a third of it actually happening next year. and that 1.6% drag is pretty comparable to the fiscal drag we've seen from state, local, federal in 2011, 2012. >> all right. tom, thank you. we appreciate it. >> thank you. >> it's...
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Aug 9, 2012
08/12
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we're right up to the edge of the fiscal cliff, if not over it, and it's one of the most destructive things the congress can congress is making it wors. >> we agree on that. the ceo of standard chartered cancelling his interview with me at the last minute. we'll talk about why the interview may have been pulled so mysteriously, and taxes time, obama economic advisor saying americans need to face the hard truth and pay up in taxes. and intering the dog days, why almost 3 million petless homes saying about the economy. opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime... tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 trade at charles schwab for $8.95 a trade. tdd#: 1-800-345-2550 open an account and trade up to tdd#: 1-800-345-2550 6 months commission-free online equity trading tdd#: 1-800-345-2550 with a $50,000 deposit. tdd#: 1-800-345-2550 call 1-866-294-5411. >>> welcome back, pe
we're right up to the edge of the fiscal cliff, if not over it, and it's one of the most destructive things the congress can congress is making it wors. >> we agree on that. the ceo of standard chartered cancelling his interview with me at the last minute. we'll talk about why the interview may have been pulled so mysteriously, and taxes time, obama economic advisor saying americans need to face the hard truth and pay up in taxes. and intering the dog days, why almost 3 million petless...
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Sep 11, 2012
09/12
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i really don't think we're going over the fiscal cliff. i think moody's bmay be trying o put additional pressure on washington. >> you know, it's interesting. if you look back a year ago when we got the downgrade, that was the beginning of an enormous flood of money moving into treasuries. do we have a repeat if we get downgraded again? >> well, i wouldn't want to go that far in saying that. the stock market could go up and people could allocate assets away from bonds into stocks, all other things being equal. that's a tough call. >> don cox, you made the case for gold earlier. how high do you think that could go? >> well, i think that there's two things happening. gold is going to trend higher, but the big thing that's changed things is that gold stocks are now solidly outperforming bouillon. what that tells me is there's a change of thinking among investors generally about the validity of this and why they need to kind of protection. i would take that as a lot of investors have concluded that they're going to solve problems near-term in
i really don't think we're going over the fiscal cliff. i think moody's bmay be trying o put additional pressure on washington. >> you know, it's interesting. if you look back a year ago when we got the downgrade, that was the beginning of an enormous flood of money moving into treasuries. do we have a repeat if we get downgraded again? >> well, i wouldn't want to go that far in saying that. the stock market could go up and people could allocate assets away from bonds into stocks,...
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Nov 28, 2012
11/12
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congress remains at odds over a budget deal to avoid the fiscal cliff. markets were spooked yesterday when senate majority leader harry reid said little progress has been made. today the president speaks at about 11:30 eastern on how potential tax hikes will hurt the middle class. he'll then meet with a second group of ceos at quarter of 5:00 p.m. to get their input on how to solve the fiscal crisis. that group will include brian roberts, doug olberhaman and marisa meyer. james gorman has been enlisting the help of his employees in the fight over the fiscal cliff. "the wall street journal" reports that he asked the bank's more than 16,000 financial advisers to urge their congressmen to reach a bipartisan compromise on a budget deal. gorman says no issue is more critical right now for the u.s. economy, the global financial markets and the financial well-being of our clients. jeff, hi. >> hi. >> pretty extraordinary that james gorman is putting this memo out to his employees, but the fiscal cliff appears to be the issue the global markets are most concerne
congress remains at odds over a budget deal to avoid the fiscal cliff. markets were spooked yesterday when senate majority leader harry reid said little progress has been made. today the president speaks at about 11:30 eastern on how potential tax hikes will hurt the middle class. he'll then meet with a second group of ceos at quarter of 5:00 p.m. to get their input on how to solve the fiscal crisis. that group will include brian roberts, doug olberhaman and marisa meyer. james gorman has been...
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Jul 18, 2012
07/12
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the fiscal cliff. the euro cliff. we have the cliffs. the ceos saying, you know what? honeywell, things are pretty good. europe is weak. jpmorgan upgrades ford and gm today. housing really strong. >> oh yeah. >> we are seeing -- not down that much. quarter after quarter after quarter that makes me feel so terrific like a parallel universe. >> wow. >> when worlds collide. excellent book. >> from some like it hot to that. >> it is all about google. >> one of the highlights of course right here of delivering alpha this morning, we started off with an exclusive interview with the treasury secretary tim geithner. you say it right here if you're watching cnbc which you were. larry kudlow conducted that interview. the host of "the kudlow report" of course and right here to my left. tell us what happened. what his thoughts were. nice to see you. >> nice to see you. nice to see you. i want to say one thing in doing my homework for the interview, i went and got my friend jim kram who are interviewed last year an
the fiscal cliff. the euro cliff. we have the cliffs. the ceos saying, you know what? honeywell, things are pretty good. europe is weak. jpmorgan upgrades ford and gm today. housing really strong. >> oh yeah. >> we are seeing -- not down that much. quarter after quarter after quarter that makes me feel so terrific like a parallel universe. >> wow. >> when worlds collide. excellent book. >> from some like it hot to that. >> it is all about google. >> one...
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Dec 12, 2012
12/12
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this meeting and the fiscal cliff. so, we're looking at, you know, the next week and a half where we have a congressional, where congress is going to leave, a lot of them say they're staying if they have a deal or not. the options market was not too focused on this meeting. look at the futures curve to see that. one of the things i'll tell you right now, with december expiration, which is next friday which coincides when congress is supposed to lead, the s&p at the money straddle, if you bought that, only about 1.5%, okay? that's not pricing a whole heck of a lot. so, the market's telling you that people aren't that worried that we won't get a deal by the time congress leaves for the holidays. >> in terms to the push to riskier assets, you can believe it's the four-year anniversary of the felt's fund race basically being zero. since then, what have the markets done? nothing but go higher. the nasdaq is up 90% of that anniversary. the s&p 500 is up 57% and the dow is up 49%. hasn't this worked? >> it certainly has worke
this meeting and the fiscal cliff. so, we're looking at, you know, the next week and a half where we have a congressional, where congress is going to leave, a lot of them say they're staying if they have a deal or not. the options market was not too focused on this meeting. look at the futures curve to see that. one of the things i'll tell you right now, with december expiration, which is next friday which coincides when congress is supposed to lead, the s&p at the money straddle, if you...
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Nov 30, 2012
11/12
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among the top leaders of congress involved in fiscal cliff negotiations, the one facing the most home state pressure may be senate republican leader mitch mcconnell. he faces re-election in kentucky and a state where the tea party movement is alive and well. president obama may have won this election but would years ago, leaders of the tea party movement elected ron paul's son, rand, as kentucky senator over an establishment republican. one leader of that movement who runs a high-end audio equipment business says they could do the same thing in 2014 and this time take out mitch mcconnell if he agrees to raise taxes. >> we should not raise taxes in this country. we do not have a receive knew problem. i would like senator mcconnell to recognize that the washington leaders are like a bunch of crack addicts. they immediate ever more money forever more growing government and it is at the expense of the ordinary citizens that they pursue these policies. >> but the brighter those lines are drawn, the harder it will be to get a deal. william worked more than 20 years on wall street. now he ru
among the top leaders of congress involved in fiscal cliff negotiations, the one facing the most home state pressure may be senate republican leader mitch mcconnell. he faces re-election in kentucky and a state where the tea party movement is alive and well. president obama may have won this election but would years ago, leaders of the tea party movement elected ron paul's son, rand, as kentucky senator over an establishment republican. one leader of that movement who runs a high-end audio...
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Dec 27, 2012
12/12
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direct limb reply indicated in the fiscal cliff talks but it is relevant to the larger issue of debt and deficits. the treasury can move money around in certain ways to extend the point where we actually reach a crisis for probably a couple of months. but this is an early warning sign. secondly, republicans in the house sent word to democrats in the senate, white house, it is your turn now. we acted to put off the fiscal cliff several months ago with a bill that without objection tend all of those bush tax rates into the future and would turn off the sequester by switching defense cuts over to domestic programs. democrats, of course have no intention of doing that. especially after president obama won the election. senate democratic leadership aide tells me that will remains a 50/50 chance we will get a mini deal temporary extension of tax cuts under $250,000 before the january 1 deadline when we would go over the cliff. will are no assurances of that. a white house official told me as president obama prepares to fly back to conduct and participate in the negotiations at the end, the
direct limb reply indicated in the fiscal cliff talks but it is relevant to the larger issue of debt and deficits. the treasury can move money around in certain ways to extend the point where we actually reach a crisis for probably a couple of months. but this is an early warning sign. secondly, republicans in the house sent word to democrats in the senate, white house, it is your turn now. we acted to put off the fiscal cliff several months ago with a bill that without objection tend all of...
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Aug 27, 2012
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this fiscal cliff matter. >> i agree. whether it happens, that's another story. gentlemen, good to see you both. thank you for joining us. >> that's the model in europe. ecb keeps going back. you have to do more or we won't help you. >> where were we now? heading towards the close again. still holding steady down 20 points on the dow jones industrial average. >> merger monday. >> it has been. >> is this a sign corporate america may be in better shape than some people think? >> look at that. also after the bell, very interesting story. deutsche bank cracking down on paying, introducing new rules allowing to it claw backbone uses skwifs earned from their previous employers. what's about had a? legal implications of that coming up on "closing bell." >> before we go to break, the dividend. which check company stock has fallen the least this year? dell, hewlett-packard or xerox. the dividend pays off after the break. [ male announcer ] while many automakers are just beginning to dabble with the idea of hybrid technology, it's
this fiscal cliff matter. >> i agree. whether it happens, that's another story. gentlemen, good to see you both. thank you for joining us. >> that's the model in europe. ecb keeps going back. you have to do more or we won't help you. >> where were we now? heading towards the close again. still holding steady down 20 points on the dow jones industrial average. >> merger monday. >> it has been. >> is this a sign corporate america may be in better shape than...
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Oct 30, 2012
10/12
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cliff could cause investors to breathe a bit of a sigh of relief. at least the rally for the month of november. >> so you're looking for a rally for the month of november. would you anticipate a good fourth quarter in terms of holiday spending? what's going to drive that? i know we've been hearing that the financial services sector is supposed to rebound in the fourth quarter. you still expect that? >> i think what could be happening is that we acknowledged that the third quarter traditionally is the weaker quarter. that we do see a lot of budget flush that tends to take place in the fourth quarter. let's spend it now, otherwise we won't get it back next year. based on recent retail sales, consumers have been feeling a little more encouraged to go out and spend. so while i don't believe we're going to be moving much quicker than a half-speed recovery, i don't think, also, that we're going to be getting closer to recession. >> all right, sam. thanks very much. we wish you well. hope you're safe with you and your family. >> thanks, bill. thanks, maria
cliff could cause investors to breathe a bit of a sigh of relief. at least the rally for the month of november. >> so you're looking for a rally for the month of november. would you anticipate a good fourth quarter in terms of holiday spending? what's going to drive that? i know we've been hearing that the financial services sector is supposed to rebound in the fourth quarter. you still expect that? >> i think what could be happening is that we acknowledged that the third quarter...
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Dec 24, 2012
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>> the day before christmas, of course, still no fiscal cliff resolution. the $500 billion in spending cuts and tax increases start on january 1st unless the white house and congress reach some sort of agreement. we're joined by former pennsylvania governor ed rendell, co-chair of the campaign to fix the debt. and a cnbc contributor. governor, happy holidays. good morning to you. >> good morning, guys. >> so we're sitting here wondering what can be done in the next seven days. even in your role, if you're having to reset expectations. >> sure. i think it's fair to say the campaign is disappointed. we're not going to -- unless lightning strikes, we're not going to get a big deal. we're going to get something that avoid the cliff. kicks the can down the road on the serious issues. the serious issues, the can gets kicked into the debt ceiling. president says he's not going to deal with the debt ceiling. who knows what's going to happen at that point. i think we blew an opportunity in the last seven weeks to really sit down, do something good for the country, d
>> the day before christmas, of course, still no fiscal cliff resolution. the $500 billion in spending cuts and tax increases start on january 1st unless the white house and congress reach some sort of agreement. we're joined by former pennsylvania governor ed rendell, co-chair of the campaign to fix the debt. and a cnbc contributor. governor, happy holidays. good morning to you. >> good morning, guys. >> so we're sitting here wondering what can be done in the next seven days....
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Nov 7, 2012
11/12
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can he and congress agree on how to avoid the fiscal cliff just 54 days from now? good morning. welcome to "squawk on the street." i'm carl quintanilla with melissa lee, jim cramer, david faber. as you can see once again, down triple digits. a lot of news out of europe today as attention turns to greece and parliamentary vote there regarding austerity measures later on. democrats gaining seats in the senate. republicans maintaining control of the house. >> the issues that were a tossup are now certainties. we'll get cramer's take on how to align your portfolio right now. >> ecb president saying the euro crisis is hitting europe's strongest country. >> we're on storm watch in the northeast once again. airlines canceling flights with american airlines shutting down in new york this afternoon. >> of course we begin with last night's election. the president winning a second term defeating gop challenger mitt romney. it was battleground state ohio that put the president over the top. it was status quo election. democrats keeping control of the senate. republicans, the house. in his v
can he and congress agree on how to avoid the fiscal cliff just 54 days from now? good morning. welcome to "squawk on the street." i'm carl quintanilla with melissa lee, jim cramer, david faber. as you can see once again, down triple digits. a lot of news out of europe today as attention turns to greece and parliamentary vote there regarding austerity measures later on. democrats gaining seats in the senate. republicans maintaining control of the house. >> the issues that were a...
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Oct 22, 2012
10/12
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he may not be able to affect the fiscal cliff because he needs the congress to work together. >> jim we deal with many regulatory bodies. we have great relationships whether it's nhtsa on the motorcycle side on the consumer safety commission. and we work those relationships hard. we just need to make sure as they're imposing regulations that they keep the balance between safety that we always put at the paramount for our consumers, but the economic impacts in the states where we operate in and the dealers where they sell. >> is that a republican/democrat issue? >> i think it can be. typically you see republicans favoring slightly less regulations, democrats slightly more. and i think both sometimes have the right approach. and we like to see them working together to deliver the best results for our industry. >> look, i've got to tell you. i have a feeling today, vf corp. said weakness in europe versus what they said. obviously a bunch of industrial companies say not the right thing. why are people -- let me just put this. why are people buying your expensive stuff? >> you know, jim,
he may not be able to affect the fiscal cliff because he needs the congress to work together. >> jim we deal with many regulatory bodies. we have great relationships whether it's nhtsa on the motorcycle side on the consumer safety commission. and we work those relationships hard. we just need to make sure as they're imposing regulations that they keep the balance between safety that we always put at the paramount for our consumers, but the economic impacts in the states where we operate...
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Nov 29, 2012
11/12
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president obama and congress make positive comments about avoiding the fiscal cliff. and uk banks brace for possible new rules on capital and lending as bank of england governor mervyn king prepares to unveil his financial stakt reporbility. and the search is on on for the winners of the pow ball ticket as two tickets matched all the numbers in the $580 million drawing. we're getting a lot of green on the heat map and not a lot of red. sur enough, the stoxx 600 is up 0.8%. we can take a look in at the bourses and almost a mirror image of yesterday. ibex 35 adding 1.6%, cac 40 up more than 1%. the dax adding 0.8%. and we just got german unemployment figures. plus the foot city 100 up 0.8% this morning. so pretty much a strong session across the board. again, following what we saw in the u.s. yesterday. take a look at the bond wall here of course we have an italian auction coming up later and italy's ten year, below 4.5% this morning. so price rising. that yield falling. spain also benefiting. that yield down to 5.2%. bunds creeping back up to 1.4% level. let's key in o
president obama and congress make positive comments about avoiding the fiscal cliff. and uk banks brace for possible new rules on capital and lending as bank of england governor mervyn king prepares to unveil his financial stakt reporbility. and the search is on on for the winners of the pow ball ticket as two tickets matched all the numbers in the $580 million drawing. we're getting a lot of green on the heat map and not a lot of red. sur enough, the stoxx 600 is up 0.8%. we can take a look in...
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Aug 16, 2012
08/12
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. >> peter, let me ask you about the fiscal cliff issue. the fault lies with congress, they left for five weeks vacation, and we have the tax cuts expiring and the spending programs expiring. what do you think is the answer here? >> the first thing is i agree with everyone saying this is not helpful. we have an economy going through a hard time of very slow growth, and having the uncertainty of how we will resolve the fiscal cliff is not helpful. there is substantive differences about the path forward. i'm not fully in either camp. i don't know how good of an idea is it for me to put my own ideas out there. >> will we see a recession in 2013? that's on a lot of people's minds right now. >> it depends on if we're bungy jumping or sky diving. if we go over and we have no clear path for how we get out of it, that would make vur chully certain that we reenter a recession. >> i realize who i am asking, but the most recent gallup pole has romney winning. >> i'm not the right person to ask that. >> he didn't say it's a, you know, it's a shoe in, s
. >> peter, let me ask you about the fiscal cliff issue. the fault lies with congress, they left for five weeks vacation, and we have the tax cuts expiring and the spending programs expiring. what do you think is the answer here? >> the first thing is i agree with everyone saying this is not helpful. we have an economy going through a hard time of very slow growth, and having the uncertainty of how we will resolve the fiscal cliff is not helpful. there is substantive differences...
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Dec 24, 2012
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regardless of what congress does or doesn't do to deal with the year-end fiscal cliff, it is too late for employers to accurately withhold income taxes from paychecks. payroll increases start january 1. but talks drag on of how to ad
regardless of what congress does or doesn't do to deal with the year-end fiscal cliff, it is too late for employers to accurately withhold income taxes from paychecks. payroll increases start january 1. but talks drag on of how to ad
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Dec 26, 2012
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the fiscal cliff. last year, it cut u.s. treasuries from a to a-plus with a negative outlook. >>> and the holiday shopping season is drying to a close. early numbers suggest what started out strong is ending with a whimper. mastercard spending pulse unit estimates sales rose .7% over the past two months, which would be the weakest pace since 2008 during the financial crisis. many analysts had expected sales to rise 3% to 4%. several events may have, of course, pushed consumers to spend less this season including hurricane sandy and concerns about how tax hikes from the fiscal cliff could impact their wallets. joining us for more on the numbers is michael mcnamara of mastercard advisers. great to have you with us. many analysts, retailers had high hopes for the season. i think it's looking weaker than expected. of course we had hurricane sandy and we're dealing with the fiscal cliff, as well. what do you think the big driver was of these slower growth numbers? >> well, good morning. yes, you hit on two
the fiscal cliff. last year, it cut u.s. treasuries from a to a-plus with a negative outlook. >>> and the holiday shopping season is drying to a close. early numbers suggest what started out strong is ending with a whimper. mastercard spending pulse unit estimates sales rose .7% over the past two months, which would be the weakest pace since 2008 during the financial crisis. many analysts had expected sales to rise 3% to 4%. several events may have, of course, pushed consumers to spend...
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Nov 2, 2012
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cliff is one really that's going to come down to what congress does and that is looking less feasibly -- you've got a congress that's probably still going to be divided after this election potentially. >> yes. >> which loads to just acrimony and pain. we all know what happened back in august of last year when we couldn't get that debt ceiling increased. >> absolutely agree with what you just said. it's funny we were talking about that tonight before the show started. the prospects for republican takeover of the senate. even if romney wins the white house. the senate prospects have deteriorated which means more gridlock, more fiscal cliff, more god knows what. higher capital gains taxes. higher dividend tax rates. all things that are antithetical to the stock market. are they not? >> absolutely true. and, you know, lately in the last few months we've seen the unemployment rate in some of the key states that republicans need to hold like maine, they've gone up. that's going in the wrong direction. i don't know to what extent they hold the current senator responsible for that. certainly
cliff is one really that's going to come down to what congress does and that is looking less feasibly -- you've got a congress that's probably still going to be divided after this election potentially. >> yes. >> which loads to just acrimony and pain. we all know what happened back in august of last year when we couldn't get that debt ceiling increased. >> absolutely agree with what you just said. it's funny we were talking about that tonight before the show started. the...
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Dec 12, 2012
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and there would be no fiscal cliff because romney would get together with congress, extend every single tax break and we would all live happily ever after and not worry about the deficit and not worry about the 2%. there was a kind of, well, they guessed it wrong. we started focusing on the fiscal cliff because there would not be a cliff if romney had been elected because there would have been no loggerhead. i don't know. >> interesting. mark andreson on squawk this morning saying, we'll go over the cliff. howard dean has said it for weeks. you've got the solidarity on those on the left, andreson a big-time romney supporter, saying the exact same thing, this is the best thing for the country. >> i like what dimon said in that interview. it could be really bad. >> we don't know, but why take the change. >> andreson's got the job. you should be more worried about going over the cliff and losing your job. if you say you're not worried about the cliff, you must be very rich. if you're very rich, you should not worry about -- >> if you're truly concerned about the deficits, and we've said th
and there would be no fiscal cliff because romney would get together with congress, extend every single tax break and we would all live happily ever after and not worry about the deficit and not worry about the 2%. there was a kind of, well, they guessed it wrong. we started focusing on the fiscal cliff because there would not be a cliff if romney had been elected because there would have been no loggerhead. i don't know. >> interesting. mark andreson on squawk this morning saying, we'll...
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Oct 17, 2012
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cliff, that that would derail any confidence the consumer has -- >> of course two derail our confidence and our hopes. we as a nation have to encourage our political leaders, our congress, to learn and think and really take this extremely seriously and see what the consequences would be. dire. >> bob, it seems to me we've haeshd in the past few days -- martha talked to us earlier about how congress has to really sit up and listen. jamie dimon, the ceo of jpmorgan chase made these same comments earlier in the week. we've heard a number of ceos rally around the concept that perhaps washington might not be able to get it done but the ceos of america might be able to get it done. >> well, look. i think we're all putting pressure on them to think about it as the infrastructure we need to succeed as business people but what we're really doing is providing a service for consumers, providing jobs for consumers, providing revenue for the government and we need help to keep moving it forward. don't stop. the idea that we're going to stop and, my business, the biggest insult is study and review. t
cliff, that that would derail any confidence the consumer has -- >> of course two derail our confidence and our hopes. we as a nation have to encourage our political leaders, our congress, to learn and think and really take this extremely seriously and see what the consequences would be. dire. >> bob, it seems to me we've haeshd in the past few days -- martha talked to us earlier about how congress has to really sit up and listen. jamie dimon, the ceo of jpmorgan chase made these...
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Nov 27, 2012
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cliff is. >> that's the difficult part of it. a fail safe mechanism. the scenario at the end of december where you say we can't do it. that's unlikely. >> how much does the market fall? >> i think you'll have a rerun of the t.a.r.p. scenario in late 2008. >> ed is nodding his head. >> i do think markets will fall. i actually wanted to ask tom a question. i agree with you. i think confidence is extremely important. the question is this. suppose you deal with the fiscal cliff and you restore confidence for the short run by doing that but you do it in a way that is not conducive to long-term growth. that wouldn't be great for markets either. so my big concern is that, you know, if we look at the past three years and you say, well, markets have done pretty well. confidence has been pretty high. at least for the short run. if you read it that way. but the question is how much longer can we tolerate very low growth rates and should we accept the structure in the short run that allows for long-term growth that's higher or long-term grow
cliff is. >> that's the difficult part of it. a fail safe mechanism. the scenario at the end of december where you say we can't do it. that's unlikely. >> how much does the market fall? >> i think you'll have a rerun of the t.a.r.p. scenario in late 2008. >> ed is nodding his head. >> i do think markets will fall. i actually wanted to ask tom a question. i agree with you. i think confidence is extremely important. the question is this. suppose you deal with the...
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Dec 6, 2012
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convening a significant fiscal cliff hearing today. so we have that going for us. and before he heads there, one of the experts testifying will join us next. first as we led to break, check out what's trending on yahoo! right now. leading the way, susan luckey dies. best known for playing in the music man. she's dead at age 74. made a commitment to the gulf.p bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >>> the u.s. equity futures are indicated a little higher this morning after the gains we saw yesterday at least for the dow. the nasdaq and s&p 500 gave up some ground because of the losses with apple, but this morning moderate green arrows. in our headlines, adults can now legally b
convening a significant fiscal cliff hearing today. so we have that going for us. and before he heads there, one of the experts testifying will join us next. first as we led to break, check out what's trending on yahoo! right now. leading the way, susan luckey dies. best known for playing in the music man. she's dead at age 74. made a commitment to the gulf.p bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open,...
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Dec 24, 2012
12/12
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continues to tick down towards the fiscal cliff. ben white chief economic correspondent at politico is here with the latest on this negotiation impasse, and of course, ben white, morning money. >> you can definitely talk about morning money. >> what's it called? >> morning money. >> say it again. >> morning money. >> morning money. >> sign it for it at politico.com. >> politico? >> you've heard of that. >> but it's on morning money. >> what do you think the chances are? five days, four days? >> yeah, i mean, let's say, until new year's about five. i give it like a 70% chance we go over, 30% chance we don't. i think a lot of it depends on mitch mcconnell, the senate minority leader, if he decides to allow a bill to move forward on the floor. >> is there anything going on behind the scenes that we don't know about? >> there is. the president's playing golf in hawaii. there's nothing going on behind the scenes. >> there's not some -- >> meetings going on in the white house, there's not staff -- >> lining up a putt? >> no, which is diff
continues to tick down towards the fiscal cliff. ben white chief economic correspondent at politico is here with the latest on this negotiation impasse, and of course, ben white, morning money. >> you can definitely talk about morning money. >> what's it called? >> morning money. >> say it again. >> morning money. >> morning money. >> sign it for it at politico.com. >> politico? >> you've heard of that. >> but it's on morning money....
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Jul 30, 2012
07/12
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they need to get together to do something about the fiscal cliff. sadly, they're not going to do that ahead of the election. >> jim, i'm going to pick up on what you said with consumers not doing so well. according to my stats, the consumer staple sector trading at the highest level at record. you're talking discretionary. >> i'm talking discretionary and the other thing of consumer staples is those companies the end to have a reliable cash flow and seeing bond yields as low as they are now, anything generating a reliable cash flow is genuinely very valuable and makes sense this some of these very stable companies with a cash flow dependable have done really pretty well and totally rational with a ten-year bond yield. >> aull the defenses are done well this year. thank you for joining us, jim and peter. kayla? >> ohio-based atm maker, the company saying that today a shift in atm revenue of the smaller regional banks more promptible on atm fees for people like diebold, that revenue shifting to north american national accounts, weakening the outlook f
they need to get together to do something about the fiscal cliff. sadly, they're not going to do that ahead of the election. >> jim, i'm going to pick up on what you said with consumers not doing so well. according to my stats, the consumer staple sector trading at the highest level at record. you're talking discretionary. >> i'm talking discretionary and the other thing of consumer staples is those companies the end to have a reliable cash flow and seeing bond yields as low as they...
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Nov 6, 2012
11/12
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an extension of existing rates, so it would give congress time to engage in real tax reform, which we've all been talking about, bringing down rates, simplifying the code, filling in those loopholes so we can get back to basics in terms of investors acting out of economics and not trying to gain the system through the tax code. >> what happens if president obama is reelected? >> well again, i do think that this election is about taxes, which is why i believe mitt romney will win, because people believe lowering tax rates allows for small businesses and investors to get back into the game. if for some reason that doesn't happen, yes, we have consistently said we will work with the white house. we have tried to work with the white house over the last several years, but there has been so many times which we have failed to come on agreement, and i think after this election the country is ready for all of to us come together and try to get some results so we can get america back to work. >> what can you tell us, give us real insight leader cantor into virginia. president obama was the first d
an extension of existing rates, so it would give congress time to engage in real tax reform, which we've all been talking about, bringing down rates, simplifying the code, filling in those loopholes so we can get back to basics in terms of investors acting out of economics and not trying to gain the system through the tax code. >> what happens if president obama is reelected? >> well again, i do think that this election is about taxes, which is why i believe mitt romney will win,...
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Nov 20, 2012
11/12
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rob, you're not worried about the fiscal cliff. >> i'm worried, maria. just like chairman bernanke is. congress and the administration have to get together, but, you know, the president's been very clear that he doesn't want necessarily higher tax rates. he wants more tax revenue. speaker boehner said, well, geez, we can get higher tax revenue just by closing a few loopholes, restructuring mildly the tax code. so i think the fix is in. it's just why hasn't it happened. they wanted to wait until after the election, see if both sides wanted to see if their hands were strengthened. obviously, the president has the strong hand. >> they sort of like taking everything to the cliff, to the edge of the cliff to get everybody nervous, i guess. feels like a dÉjÀ vu from last summer. rob, you make a good point. i understand it from mya mcginness, who created this fix the debt croup. she says if you take away all the loopholes and exceptions, you get $1 trillion. that sounds good, right? unfortunately a lot of those loopholes will not be touched t like the mortgag
rob, you're not worried about the fiscal cliff. >> i'm worried, maria. just like chairman bernanke is. congress and the administration have to get together, but, you know, the president's been very clear that he doesn't want necessarily higher tax rates. he wants more tax revenue. speaker boehner said, well, geez, we can get higher tax revenue just by closing a few loopholes, restructuring mildly the tax code. so i think the fix is in. it's just why hasn't it happened. they wanted to wait...
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Dec 26, 2012
12/12
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on to the fiscal cliff this morning. the president cutting his vacation short in hawaii. the president plans to leave for washington tonight. congress expected to return on thursday. president, guys, not expected to actually arrive in washington until tomorrow morning. no talks scheduled that we know of as of yet. all the attention's going to turn to the senate, which tends to be more of a compromising body than the house is. >> yes. and the president is available in person if you should want to go over there and visit with him. or perhaps if he wants to visit with anybody else. the consensus seems to be if you get some sort of a deal, it's obviously not going to be the big deal. it will simply be something that extends the tax cuts for the vast majority of americans, at least those earning less than $250,000 a year. the consensus seems to be, carl, that if we don't get a deal by the second or third or fourth week, the super bowl week, we'll start to feel it in the economy. >> we had a notable sell-off. there is typically a bias on christmas eve, but the worst christmas e
on to the fiscal cliff this morning. the president cutting his vacation short in hawaii. the president plans to leave for washington tonight. congress expected to return on thursday. president, guys, not expected to actually arrive in washington until tomorrow morning. no talks scheduled that we know of as of yet. all the attention's going to turn to the senate, which tends to be more of a compromising body than the house is. >> yes. and the president is available in person if you should...
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Nov 27, 2012
11/12
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congress has put away the turkey and pumpkin pie and will get back to work with the fiscal cliff. so can a deal actually be struck before christmas? can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. >>> it's deal. markets rally as policymakers reach agreement on cutting greek debt. and let's tnot twist again. richard fisher says asset purchases should end this december. and third quarter gdp data defies predictions with growth confirmed at 1%. also results out of italy. spain was able to raise more than expected in three and six month bills. italy has completed a two year zero coupon bond auction with the yield at its lowest since october 2010. that isn't turning its bond yield on the longer end. ten year back into the green. this morning we've seen it flip price higher, yields -- i'm sorry, price lower, yields rising. b
congress has put away the turkey and pumpkin pie and will get back to work with the fiscal cliff. so can a deal actually be struck before christmas? can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. >>> it's deal. markets...
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Jul 12, 2012
07/12
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on "power lunch" is congress crushing the recovery? the fiscal cliff weighing on the markets. what's being done to avert it? new foreclosure numbers show a wave of foreclosed homes is still on the way. will it shrink the housing recovery? the power couples of sun valley. who had dinner with whom. what does it all mean? what did they eat? now back to michelle and more "fast cash." >> goldman sachs making calls on the transportation sector today, initiating the airline sector with a cautious view. goldman more bullish on the rails and making canadian pacific the top buy idea. pete, what do you think? good idea or bad idea? >> i totally agree. when you look at what everybody points to as what the weakness was going to be in the rails it was going to be coal. coal has been taken out back, but they have been able to make it up through the intermodal traffic. the traffic numbers were up for may. they are down 1.3% year over year. but when i look at this if i think coal is on the bottom and i do believe in that thesis, then i think if that comes back the intermodal continues to grow
on "power lunch" is congress crushing the recovery? the fiscal cliff weighing on the markets. what's being done to avert it? new foreclosure numbers show a wave of foreclosed homes is still on the way. will it shrink the housing recovery? the power couples of sun valley. who had dinner with whom. what does it all mean? what did they eat? now back to michelle and more "fast cash." >> goldman sachs making calls on the transportation sector today, initiating the airline...
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Dec 14, 2012
12/12
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cliff and what congress needs to do to get a deal done. plus, after his global game of hide and seek riveted the country for weeks john mcafee is speaking out. we'll find out what he said about being on the run and how he feels about the charges against him. giving your friends benefits. boom rang is changing the social gifting game and raising big money as well. the ceo is going to join us live to tell us what is next for the company. let's start with apple. the iphone 5 making its debut on shelves in china today as apple takes on its cheaper rivals. will it get a better reception than the ipad mini? we have an analyst with a buy on apple with a price target of 750. good morning you to. happy friday. >> happy friday to you as well. >> we're trying to get a sense of what the environment is regarding the 5 halfway around the world. the video certainly looks encouraging. a lot of enthusiasm around the stores and yet some analysts around the street actually bringing their numbers down saying it's not going to do as well as the 4s. what is you
cliff and what congress needs to do to get a deal done. plus, after his global game of hide and seek riveted the country for weeks john mcafee is speaking out. we'll find out what he said about being on the run and how he feels about the charges against him. giving your friends benefits. boom rang is changing the social gifting game and raising big money as well. the ceo is going to join us live to tell us what is next for the company. let's start with apple. the iphone 5 making its debut on...